Recruiter promotes FC to acting CFO

THE DEPARTURE of PageGroup CFO Andrew Bracey on Friday has prompted the finance recruiter to appoint an acting replacement.

Kelvin Stagg, who has served as PageGroup group FC and company secretary, is promoted to acting CFO. The chartered management accountant has served with the group – formerly branded as Michael Page – since 2006, and prior to this spent six years at Allied Domecq and three years at Unilever in a number of finance roles.

Steve Ingham, CEO of PageGroup, said: “Kelvin has demonstrated considerable financial acumen during his seven years at PageGroup and the Board is delighted to appoint him as acting chief financial officer. He has played a significant role in increasing our focus on the consistency and efficiency of our operational support teams, which is one of our key strategic objectives going forward.

“I would like to thank Andrew for his contribution to the Group. We wish him the best in the next chapter of his career.”

The group also posted its Q3 figures, with gross profit down 0.2% compared to the same period a year before. UK profits climbed 5% during the period, to £31m.

Its share price has fallen 25.8p in this morning’s trading, to 468.7p, valuing the company at £1.45bn by market cap.

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